Most auditors will encounter a material fraud during their auditing careers.

Question

Quizplus · Accepted Answer

While fraud can and does occur, it is not common for auditors to encounter material fraud during their auditing careers. Proper audit procedures and techniques, including risk assessment and internal controls testing, are designed to help prevent, detect and respond to fraudulent activities, but auditors cannot guarantee that all fraud will be detected during the course of an audit.

Most Auditors Will Encounter a Material Fraud During Their Auditing